Ford, Jaguar scrap thousands of jobs across Europe

Automakers Jaguar Land Rover and Ford unveiled yesterday sweeping job cuts across Europe as carmakers worldwide struggle with a downtrend in diesel vehicles' demand, tougher emissions rules and a global economic slowdown led by China.

According to the announcements Jaguar Land Rover, which has been one of the anchors of the British economy, will cut 4,500 out of 42,500 jobs, mainly in marketing, management and administration. The news comes after last year 15,000 lost their jobs due to the falling demand for diesel cars and economic uncertainty, surrounding Brexit.

Ford, on the other side will slash “thousands” of jobs in its European workforce as part of an overhaul that could result in plant closures and the discontinuation of some models as well. As Ford said it will seek to exit the family vans or MPV segment, review its operations in Russia, and combine the headquarters of Ford UK and Ford Credit to a site in Dunton, Essex to achieve a 6 percent operating margin in Europe.

"We are taking decisive action to transform the Ford business in Europe,” Steven Armstrong, group vice president, Europe, Middle East and Africa, said in his statement on Thursday, adding that he wants the company to be "a net contributor of capital and not a net detractor.”

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